1. What is the accounting equation?
2. The bookkeeper's role, versus the accountant's, is to:
3. Which accounts increase with a debit?
4. A 10,000 sale is paid into the bank. The entry is:
5. A credit sale (customer pays later) is recorded as:
6. A credit purchase creates a:
7. Paying electricity from the bank is recorded as:
8. Under the imprest system, cash remaining plus vouchers should always equal:
9. The total of all customer accounts in the sales ledger should equal:
10. Bank reconciliation means:
11. An unpresented (uncleared) cheque in a bank reconciliation is:
12. Which error would NOT be caught by the trial balance?
13. You discover rent was posted to Electricity. You should:
14. For a VAT-registered business, VAT is:
15. Output VAT is 16,000 and input VAT is 8,000. The net VAT payable is:
16. Deductions taken from pay but not yet remitted are recorded as:
17. Gross pay is 100,000 with 25,000 deductions. The Wages expense recorded is:
18. A 100,000 fee has 5% withholding tax. The supplier receives, and the business remits:
19. A balanced trial balance proves:
20. The core value a bookkeeper offers is:
